Since we are all business owners, we wouldn’t be forming a union because we aren’t employees. It’d be an association, if anything, of business owners.
1 Like
For newbies, it will be impossible for us to get any deals directly from Title/Escrow company. Therefore, we have to take those “low-ball” deals in hope that we can build up the # of signings in our profile - so that we can go direct with Title/Escrow instead of those Signing Services company.
4 Likes
There are a lot of different view points about signing fees. One thing I think we all can agree on that being a loan signing agent / independent contractor basically comes down to as opening a small business. Like any business the owner of that business must be proficient in the key functions of his/her business: Management, Operations, Marketing, Accounting, Finance". When anyone choose to start a business, they should have enough working capital to sustain the business for at least a few years. If not the business is subject to experience failure. The same is true if the business is managed poorly. The acquisition of customer (title companies/signing services, etc,) plays a big part in generating fees. We must develop a strategy that allows us to maximize our business profitability. Just focusing on getting the highest fee on each signing order, may not achieve the end results desired. We may be experiencing a down economic cycle in the loan signing agent field. We have to pay attention to the market indicators and trends, such as declining fees and rising prices for supplies and other expenses. We must be willing to make changes, adapt to negative factors and make adjustments as needed to survive. Of course, all this is just my point of view/opinion.
4 Likes
Hi Carl, What part of Florida are you in ?
Hello John, I am located in North FL - Duval county. What about you?
South Fla., Broward & West Palm Beach. Heavy notary country.
Well it hurts everyone. There will be someone who will take it for $40, now everyone wishes they never accepted the lowball offers.
This was an awesome post, thank you so much for your break down. Very,very helpful!
This topic was automatically closed 90 days after the last reply. New replies are no longer allowed.